Non-fungible token

{
  "id": "MLC-T-LAW-003443",
  "term": "Non-fungible token",
  "field": "Law",
  "definition": "A unique unit of data stored on a digital ledger, or blockchain, that certifies a digital asset to be unique and therefore not interchangeable. A non-fungible token (NFT) can represent ownership of items such as art, collectibles, or virtual real estate. The legal status of NFTs as property, securities, or another class of asset is an evolving area of law, with implications for intellectual property rights, taxation, and estate planning.",
  "abbreviation": "NFT",
  "url": "https://mlchart.com/terminology/law/non-fungible-token/"
}